By Silindzelwe Nxumalo
The Central Bank of Eswatini has officially acquired 21 hectares of land in Ezulwini belonging to Sun International at an estimated price of over E33 million.
A local property expert, who preferred to remain anonymous, said prime land costs about E1 600 per square metre at Ezulwini which then translates to 1000 (hectare) multiplied by 21 which leads to the estimated costs of E33 million.
CBE Governor Dr Phil Mnisi said the bank has acquired two plots which are the remainder of Portion 44 of Farm 50 and Portion 45 of Farm 50 for the construction of their new headquarters and complex. Mnisi stated that the two plots included improvements that used to be Ezulwini Sun, which cuts across the two plots.
He said these improvements will be customized for the bank’s purposes going forward. He explained that the CBE had previously acquired a plot in Mbabane for the purpose of constructing its headquarters.
“The Board has since approved that this plot be sold and the proceeds to be used to contribute to the acquisition of the site in Ezulwini,†he said.
The governor stated that CBE management is already working on plans to put together a 30–50-year development plan. He said the bank currently has a large property portfolio including the current Head Office and that the new property will allow the Bank to consolidate its property portfolio and will in due course strategically dispose off some of the current properties.Â
He stated that some of the structures that would feature in the new complex included a high-rise office park, and a state-of-the-art Museum with a curio shop, an innovation hub.
Mnisi said the structures would also feature a data centre, a staff wellness centre including a health facility, a centre of excellence with conference facilities, and a recreational and sporting complex that will allow the CBE to easily host inter-central bank games. “The Central Bank remains committed to pursuing its mandate and contributing to the development and growth of Eswatini’s economy,†said Mnisi.
ALSO READ: ‘It’s time to harness undervalued potential within persons living with disabilities – PM
The current place acquired by the CBE which used to be the Ezulwini Sun is part of the properties that were previously owned by Sun International and currently going through the liquidation processes.
The Liquidator appointed by the High Court of Eswatini in June 2021 for these properties is Paul Mulindwa and lawyer Marissa Boxshall Smith.
Previously, Canham Mining International was the first interested buyer of the three hotel properties however, the deal was cancelled which brought the liquidators back to squire one.
Currently, the CBE headquarters are based in Mbabane opposite the EPTC.
Ezulwini Municipality Chief Executive Officer (CEO) Mathokoza Shongwe said as a town they always welcome development because it is their dream to see the town develop.
Shongwe stated that having the bank come to their town means a lot to them and they do know that any development that comes into the town comes with more people who have different demands.
“As a town, we do note that this development will come with different demands such as the need to get more accommodation places for the new places that are coming to our town,†he said.
He said they were also noting that there was a need to balance what the town is known for, which is tourism and corporate.
“We do believe that even though more corporates are coming to our town we believe that there is still much room for the tourism developments to come,†he said. He said they were still going to engage with the relevant people to ensure that there is also a rise in the tourism sector in the town.
